2
votes
Why do people burn Bitcoin or other cryptocurrencies?
Counterparty coin is one instance I can recall that they burned 20+ bitcoins to prove they are "serious" about their project and from those burned coins they generated counterparty tokens. These ...
- 11.1k
2
votes
Accepted
Different ways in which bitcoin can be burnt
there are indeed several ways of burning bitcoin:
comment on 1: you dont have to rely on trust, you can send bitcoin to 1111111111111111111114oLvT2. This address is spendable with if you have a ...
- 287
2
votes
What's with this address 1111111111111111111114oLvT2?
1111111111111111111114olvt2 appears to be used as the Proof of Burn address of Blockstacks Core. I had never heard of that project before, but they describe themselves as:
Blockstack is a new ...
- 77.8k
2
votes
What's with this address 1111111111111111111114oLvT2?
what is 111...1114oLvT2?
See also here, it explains in detail on the logic behind „proof of burn“, including op_return.
why 14,270 BTC?
We cannot know. Pure speculation would be, that ...
- 5,116
1
vote
How hard it is to destroy BitCoin system if the government leaders decide to do this?
since the government controls the physical internet
They do not (at least in North America or Europe). The internet is a network of communication. An Internet Service Provider (ISP) can be private or ...
- 1,808
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